Bill > H4128

This bill authorizes municipalities in Massachusetts to provide a residential property tax exemption of up to 35% of the average assessed value for senior citizens aged 70 or older who use the property as their principal residence for income tax purposes. The exemption is in addition to any other allowable exemptions, but the taxable valuation cannot be reduced below 10% of the property's full and fair cash value. The bill also includes provisions for how the exemption applies to properties owned by cooperative corporations. Municipalities can opt to implement this exemption through acceptance by the board of selectmen or mayor and city council.